Moneybox already uses an account aggregation service to connect to a number of banks, but this service does not support Santander.
The open banking framework gives third-parties – often fintech companies – the ability to access customer data held by banks, providing customers give their consent. The new rule-set went live earlier in 2018. A Moneybox representative, cited by AltFi, declared that Open Banking will allow the app to improve its connections with existing bank partners, as well as allowing it connect to new partners like Santander.
Moneybox recently hauled in a GBP 14 million Series B investment led by Eight Roads, the investment arm of global asset management giant Fidelity International Limited.
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